HOLLAND, MI (WHTC) – Both the Holland City Council and Residents voiced support for affordable housing in Holland at Wednesday’s City Council Meeting.
Council voted unanimously on a resolution of support and a municipal services agreement for the development of the 54-unit apartments called Centennial Park Apartments.The apartments will be built where Reliable Sports now sits at 254 South River Avenue.
General Capital will now be able to take its development to the Michigan State Housing Development Authority (MSHDA) for tax breaks. The agreement for $20,500 will allow the apartment development to receiver city services such as water, sewer or law enforcement protection. A PILOT Ordinance was approved as well for 30 years. That will allow a payment in lieu of taxes as 4 percent of the annual rent of the development.
In order for General Capital to get approval from the MHSDA, the resolution and agreement needed to be passed. Now the developer will be able to get tax breaks so that they may charge lower rents, but not as a Section 8.
Holland Mayor Nancy DeBoer visited some of General Capital’s developments in Milwaukee last week. DeBoer told WHTC News that Centennial Park Apartments are geared more towards millennials.
“They won’t be big enough to accommodate more than maybe one child and that might be pushing it. One to two bedroom apartments that are geared at attracting people who are at the cusp or their career or have just graduated college. It’s a different bracket”
The apartments will be completed in 2018. Council meets again for a study session on March 22.
